BOSTON, May 17, 2022 /PRNewswire/ -- In 2020, less than 3% of venture capital funding went to companies with Black or Latinx founders. To help address these disparities, Blue Cross Blue Shield of Massachusetts ("Blue Cross") launched the Health Equity Business Accelerator ("Accelerator"). The program provides financial, strategic and mentorship support to founders of color focused on creating equitable health care services and solutions. Accelerator participation includes a $150,000 investment, as well as nine months of tailored programming delivered in conjunction with partners like The Capital Network and Healthbox to help accelerate growth and foster innovation.

Blue Cross Blue Shield of Massachusetts

"This is not a philanthropic act - it's a good investment and business decision," said Andrew Dreyfus, president and CEO at Blue Cross. "By investing in these diverse start-ups, we're able to help support the growth of businesses that are centering equity in their work and making advances in technology and services that will lead to improved health outcomes."

"Our goal is to help incubate new ideas that can advance health care and better serve consumers, including our members," said Michele Courton Brown, Blue Cross' vice president of business development and managing director of Zaffre Investments. "The accelerator also reinforces our company's commitment to addressing health inequities and racial justice and complements our longstanding supplier diversity initiatives."